The Lump Sum market and Retirement Planning Field is a Dynamic One
The field of retirement advising will experience tremendous growth over the next several decades as millions of baby boomers enter into their mid-life and begin transitioning out of their companies.
Retirement Advisors Play a Vital Role
Pre-Retirement planning. Asset allocation. Money management. Inflation hedges. Global investing. Risk management. Portfolio analysis. Market research. Most importantly, Value-added service.
A career in the investment services industry is a rewarding choice for those individuals who are self-motivated, disciplined, and enjoy working with clients. A Retirement Advisor at The Retirement Group helps transitional employees plan for their future and helps achieve their financial goals. This involves contacting prospective clients, identifying their needs, objectives and financial capabilities, and then prudently selecting and recommending appropriate action. Retirement Advisors work on a commission basis after the initial training program.
While there are no specific requirements, a background in finance and sales is helpful, along with an education in business. Essentials are motivation, confidence, enthusiasm, self-discipline, a desire for success, the ability to be an entrepreneur, and a solid work ethic. The selection process involves an initial aptitude test, a series of interviews and a sales aptitude test.
The primary responsibility of the Retirement Advisor is to master the knowledge required to become successful. The time frame for the completion of training is approximately 18-24 months. Trainees begin with a foundation of knowledge in taxes and ERISA law before taking the Series 7 and completing the registration process. You will accomplish these objectives in the following manner:
|Phase 1: Lump Sum Educational Training, Prospecting and Selling –
|Trainees begin in the branch and begin a training designed to provide a basic knowledge of the lump sum market and The Retirement Group, policies and procedures.|
|Phase 2: Lump Sum telephone skills–
|Trainees begin in the branch and begin a training designed to provide a basic understanding of how to communicate on the telephone. You will learn how to use the tools necessary to educate the transitional employee through seminars. Trainees will also test and receive the the internal CLSS test.|
|Phase 3: Applying Lump sum knowledge||
|Professional selling courses help each trainee identify target markets, develop marketing plans, role-play, find personal effectiveness and establish goals in each core. The objective is help the transitional employee reach their goals through the Retirekit.|
|Phase 4: On the Job training –
Six month, Twelve month and Eighteen month Training
|Retirement Advisors work with a mentor to develop business through contacting prospective clients with your Series 7 mentor. You will work with your mentor learning the complexities of early retirement, ERISA tax laws, stock options and asset allocation.|
|Phase 5: General Securities Exam – Series 7||
|The final step is spent in the branch office completing an intensive self-directed course of study to prepare for the Series 7 examination and registration process which is undertaken through our broker/dealer FSC Securities Corporation. Successful completion of this exam is legally required to sell securities in the United States. This self-study program is comprised of reading material, workbooks and review topics that address the specific areas of knowledge in which a registered representative must be proficient. During this study time, trainees are also asked to participate in office duties in order to become familiar with the day to day operational tasks that transpire during the course of business.|
|Phase 6: Begin educating retirees–
|Retirement Advisors begin by educating retirees in the big decision of retirement. As in any sales position, the rate of rejection is high. Thus, The Retirement Group has established tangible production goals for each month of the trainee’s initial production period that emphasizes gathering assets and opening new accounts. The branch manager, the sales manager and the office coordinators provide support and guidance.|
Salary and Benefits
The Retirement Group provides an initial salary during the trainee period. The starting base salary is based upon past year’s earnings, and remains constant during the first sixteen months of employment. The Retirement Advisor also has the opportunity to earn additional income through bonus programs. This provides successful professionals with a smooth transition to 100% commission and unlimited earning potential. The Retirement Group offers a competitive benefits packages as well.
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